Packaging has become the most essential component of end user industries. Nearly everything that is available in the market is neatly packed for various purposes. Ensuring safety of consumer goods along with increasing the shelf-life of products is increasing the dependency on packaging.
This has led to various end user industries using lidding films for packaging products. Despite of using various products for packaging such as plastic or paperboard, the need for keeping the product away from contamination has led to various end user industries using lidding films.
According to Future Market Insights, the lidding films market is anticipated to flourish at a 6% value CAGR from 2022 to 2032. By 2022-end, the market is poised to reach a valuation of US$ 19 Billion, and further to US$ 34.02 Billion in 2032.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2022 | US$ 19 Billion |
| Projected Market Value in 2032 | US$ 34.02 Billion |
| Growth Rate from 2022 to 2032 | 6% CAGR |
Lidding films come under the category of protective packaging and help the product stay safe for longer durations. This has led to most manufacturers relying on lidding films to package their products neatly. Advancement in technology for packaging products and producing materials that are highly tensile is playing a key role in the development of lidding films.
Moreover, lidding films provide resistant packaging to all shapes and sizes of consumer products. The use of lidding films for cargo packaging is positively influencing the demand for the same. This, in turn, is expected to favor the growth of the market.
Future Market Insights states that the numerous benefits attached to lidding films is helping the market to grow rapidly.
Food and beverages industry is the largest contributor to the lidding film market. this is owing to the increasing demand for increasing the shelf-life of packaged food products along with keeping them contamination-free.
Moreover, the development of environmentally friendly lidding films is bolstering the usage of the same. Thus, not only are lidding film manufacturers focusing on keeping products safer but also becoming environmentally conscious.
Demand from developing and developed regions such as North America, Europe and Asia Pacific for packaged foods is increasing the revenue for lidding films. In the upcoming years, the production strategy of lidding films is expected to become eco-friendly. This, in turn, is expected to boost the sales of lidding films.
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Recent years have seen a dynamic shift in the manufacturing of the product and its packaging. Lidding Films manufacturers are mainly focusing on upgrading new technology and implementing it in packaging materials. Lidding Films are usually used for covering trays, tubs, bowls, cups, etc. due to the strength it possesses such as high tensile, heat resistance and stability.
Lidding Films are also eco-friendly and are available in the biodegradable form which is helpful for protecting environmental. In addition, lidding films also increases the shelf life of the product due to its high barrier resistance. Lidding films are also useful in cargo packaging due to its high tensile strength. Lidding Films are also process optimized which helps in giving a cost effective due to the cheaper raw material.
Lidding Films hold escalation due to upsurge demand for food packaging and this resulted in the expansion of the sales for lidding films so that it can provide extended shelf life to the products and this trend is expected to grow over the forecast period 2017-2025. Lidding Films market have seen an increase in the penetration of retail outlets in Asia Pacific region which are driving the demand for lidding films market.
In addition, lidding films market is positively influenced by the change in lifestyle of developing countries across the globe and are fueling in demand. With the increasing population, the need for packaging of fresh food is increasing which has created a significant opportunity for lidding films.
However, lidding films are not able to protect the food products from physical and chemical damage externally which can create a restraint for its market. Furthermore, lidding films have concerns regarding the environmental effects of the use of plastic disposal from the government.
Principal Consultant
The global lidding films market can be divided into seven major regions which are as follows:
North America region is estimated to dominate the lidding film's market over the forecast period due to demand for packaged food. Europe region is also expected to witness a steady growth for lidding films market throughout the forecast period. In Asia Pacific region, lidding films market is expected to have the highest growth over the forecast period.
Furthermore, the market for lidding films in Asia Pacific region is mainly dominated by China and India due to its vast scope for rapid industrialization. Latin America and the Middle East & Africa region are expected to have a steady growth for lidding films market.
Few of the key players in lidding films are Sealed Air Corp, Amcor Limited, E.I. du Pont de Nemours & Co, Bemis Company, Inc., Berry Global, Inc., Winpak Ltd., Plastopil Hazorea Company Ltd, Danafilms Corp., Cosmo Films Ltd, Flexopack SA, Chaozhou Chaoan Keneng Print Co., Ltd., Jiangmen Pengjiang Hualong Packing Materials Co., Ltd, Shantou Weiyi Packaging Co., Ltd., Zhongsu New Materials Technology (Hangzhou) Co., Ltd., Dongying Jiachuan Commerce And Trade Co., Ltd., etc.
Amcor Limited launched a new innovative range of lidding films which are fully recyclable. Cosmo films launched a new range of universal lidding films which can be used for all types of thermoformed plastic containers.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The lidding films can be segmented by the product type, substrate, by application, and by end use industry.
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